Brookfield Business Partners has agreed to buy CDK Global, a provider of software to auto dealers and manufacturers for $6.41 billion in cash.
CDK Global has over the past several years tried to build out its digital businesses by buying online platforms such as Salty Dot, Roadster and Square Root.
The enterprise value of the deal is $8.3 billion and it is expected to close in the third quarter of 2022.
Brookfield said the deal was a bet on CDK Global’s subscription-based software model and that it expects the company to benefit from a rise in consolidation across the dealership industry.
